CREATIVITY Creativity is the ability to do old things in a new way, or to see new solutions to problems or to figure out different

ways that things can work together. As an entrepreneur, you are being creative when you identify a gap in the market and think up a product or service to meet that gap. You are being creative when you figure out a way to work in a joint venture with another company so you can both benefit. You are being creative when you write an amazing sales letter or visualize the perfect logo for your business or come up with a catchy name for your product. The more creative you are, the more good ideas you are likely to generate, and good ideas are the first step to business success. However, there is a potential problem. Creativity that is not nurtured can diminish until it lies dormant and appears to have disappeared. The good news is that you can increase your creativity by nurturing it. You can also "wake up" your dormant creativity that has gone in hiding due to lack of proper attention. To nurture your natural creativity, try the following: 1. Avoid negative self-talk. If you go around thinking or saying, "Oh, I am not creative," or "I have no imagination," or "My ideas are so poor," then these words will generate what we call a "self-fulfilling prophecy." When we repeatedly tell ourselves certain messages, our brain eventually accepts those messages as true and acts accordingly. If you continuously discount your creative abilities, sure enough, those abilities will diminish. 2. Acknowledge creative ideas when they occur and give yourself a pat on the back. Even if the idea isn't practical or can't be put to use at this time, the point to remember is that you had the idea and you can have more. Sooner or later you'll come up with something that is usable -- provided you have given yourself a little encouragement. 3. Avoid becoming over-tired or over-stressed. When we work long hours or focus our minds on a project for days on end, our creative abilities diminish. Creativity is believed to come from the right side of the brain -- and this side of the brain is the first to suffer when we are tired or pressured. Have you noticed that when you are tired or stressed, you can accomplish routine tasks that you have done many times before but you have trouble with learning new things or with developing new approaches or new ideas? The routine tasks are left brain activities and the ability to generate new ideas is a right brain activity. When this happens, it's time for a break or to find a way to reduce your stress. 4. Nurture your creativity by exposing yourself to a variety of activities and situations. Busy entrepreneurs often don't want to take time away from work to walk in the park or to go to a concert with family. They think that time that is not devoted to business matters is "wasted." The opposite is true. By giving yourself a change of scenery and a change of

activity, you give your creative, right brain a chance to rejuvenate. You will be pleased with the results. INNOVATION Of all the qualities that entrepreneurs possess one you will always seen in varying degrees is the ability to be innovative. You will see entrepreneurs: o coming up against a problem and actively deciding to find a solution to solve it o subconsciously struggling with one of lives irritations only to have a 'eureka' moment when a better way suddenly strikes them o using a service or product everyday and starting a business by adding a slight twist to make it even better than before Here are some steps you can take to fuel your innovativeness. Be Curious You cannot be innovative unless you are curious about life, about what happens around you. Resolve to start looking at your experiences differently. Constantly questions things that happen to you. Why did it happen that like that? What would need to be done if I wanted a different outcome? What would that outcome be? How could that outcome be achieved? Open up your eyes and your mind and start being curious. Be Open to New Ideas Being open to new ideas means putting yourself in situations where you can receive stimulation. You may not be seeking inspiration or a solution to problems but make sure you are regularly mixing with other business owners. Get into networking groups; seek out people who can give you fresh insights even if they are not within your sector or industry; read magazines and journals which are unrelated to your business. Be Just Plain Weird! Innovation rarely happens if you act within accepted norms. Deciding that something can't be done because it has never been done will not win you any prizes. Being innovative means being prepared to act against accepted or conventional wisdom; being prepared to challenge the unchallengeable is the way innovators succeed. In a nutshell ... go against the crowd and be weird Be Ready Innovative ideas can strike at any time of the day or night or in any place. Don't assume that ideas will pop up when you are sitting at your desk. As we saw in the previous point y their very nature innovative ideas are weird so expect them to surface in weird places.

Be Persistent Being innovative means being persistent. While you may find a solution to your problem immediately but it very rarely happens that way. Solutions are out there, it just how long you are prepared to wait for them to appear. Be Willing to Share Whilst an innovative idea can strike and you can immediately take action invariably it takes someone else to fill in the missing pieces. Don't stumble around in the dark; find someone you can trust, someone who has the qualifications necessary to help move your idea forward. Innovation in Action One great example of innovation in action was the development of the Post-It Note - its evolution demonstrates the key principles of innovation. In 1968 Dr Spence Silver when working for 3M was researching new versions of adhesives. He came up with one was slightly sticky but not sufficient to bind itself to anything. He knew it was unusual but could not find an immediate use for it. It wasn't until 1973 that having shared the concept with another person it went to the next level. His partner within the company, Geoff Nicholson championed it as a way of sticking items on notice boards but the idea still didn't capture anyone's imagination. Finally another 3M employee, Art Fry, upon seeing one of the many presentations began to see the light. He also saw something in the product but like everyone else was struggling to make the final leap. His 'eureka' moment came when he became frustrated at how the bookmarks for his hymn book kept falling out - the unstickable adhesive had finally found its purpose! See how the development of the Post-It Note fits in with the principles of innovation curiosity; persistence; sharing the discovery; preparing to accept the plain weird. It's all there in the development of this simple yet highly useful product. Innovative ideas do not have to be the preserve of the lucky few. You too can come up with weird ideas if you let yourself.

FORMULATION A formulation is a mixture that is prepared according to a specific procedure (called a formula). Formulations are made for particular applications and normally are more effective than their individual components when these are used singly. In business, it is very important because it is a computational procedure used to determine the value of a business. PRODUCT PROCESS AND DEVELOPMENT It is a system of defined steps and tasks such as strategy, organization, concept generation, marketing plan creation, evaluation, and commercialization of a new product. It is a cycle by means of which an innovative firm routinely converts ideas into commercially viable goods or services. DIRECTION SETTING Direction Setting provides many of the benefits of the more comprehensive planning tools with a fraction of the effort.
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Direction Setting is an assisted process for setting a direction for your business. The process is direct, simple and easy to implement. It results in a 3 to 4 page prioritized plan and action steps to help you achieve your business goals and objectives. It provides tools so you can easily follow-up on progress and measure your company's progress.

The Direction Setting process is completed in four to five, 4-hour working sessions. Our facilitator keeps notes and prepares documents. All you, and those you choose to include in the process, need to do is focus on what you want to do with your business. The process deals with Inputs - facts about the business and its operating environment - and generates Products - the resulting direction setting components. Inputs Situation Analysis - Background Obvious Planning Issues SWOT Competitive Profiles Products Vision Goals & Objectives Strategies Programs Measures